By Tony Okonji, Lagos-
Former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, is set to forfeit $2.04 million and seven high-value properties in Lagos and Delta States following a Federal High Court ruling in Lagos.
On Thursday, Justice Akintayo Aluko ordered the interim forfeiture, acting on an application by the Economic and Financial Crimes Commission (EFCC), which is investigating alleged fraudulent activities tied to Emefiele.
The properties under scrutiny include luxury real estate in Lekki and Ikoyi, Lagos, and a significant industrial complex under construction in Agbor, Delta State.
Justice Aluko emphasized that the forfeiture was necessary to prevent the dissipation of assets suspected to be the proceeds of unlawful activities. “The properties listed in this application are reasonably suspected to have been acquired through proceeds of unlawful activities,” Justice Aluko stated.
EFCC counsel, Rotimi Oyedepo (SAN), supported the forfeiture, arguing, “The money and properties in question are reasonably suspected to be proceeds of unlawful activities. We urge the court to grant this application to prevent any further dissipation of these assets.”
The EFCC’s investigation revealed that Emefiele allegedly engaged in fraudulent activities, including negotiating kickbacks in exchange for foreign exchange allocations. EFCC investigator Idi Musa testified, “These properties were acquired through shell companies, all linked to Emefiele, with the sole purpose of laundering money.”
The court also ordered the interim forfeiture of two share certificates of Queensdorf Global Fund Limited Trust, a company allegedly connected to Emefiele.
Justice Aluko directed the EFCC to publish the forfeiture order in a national newspaper and provided a 14-day window for any interested parties to come forward and show cause why the assets should not be permanently forfeited to the federal government. The case has been adjourned until September 5, 2024, for further hearing.
This ruling is the latest in a series of forfeiture orders against Emefiele, who is facing multiple corruption charges.
In recent months, the Federal High Court in Lagos has ordered the forfeiture of several assets linked to Emefiele, including $1.4 million in May, as well as $4.7 million, N830 million, and properties worth N12.18 billion.
